5. The House passed spending cuts undoing most of "the cliff"...

... and then Boehner couldn't get enough Republicans to pass even the extremely right-tilted tax and entitlements deal that the White House had been talking about, and Boehner had to withdraw his own bill.

So, basically, the spending cuts are at least mostly gone (this still has to go through the Senate) and as of now all the Bush tax cuts expire after next week.